A new report by the United States government has warned that Nigeria’s recently approved ₦70,000 minimum wage has lost much of its value due to the sharp devaluation of the naira.
At the current exchange rate of over ₦1,500 to the dollar, the wage amounts to about $47.90 per month, placing Nigerian workers among the lowest-paid globally.
The report noted that while the increase was announced as a major reform, its impact has been undermined by inflation and weak enforcement. It also highlighted that the law applies only to businesses with 25 or more employees, excluding millions in small enterprises.
According to the findings, several states have yet to implement the new wage, citing budgetary challenges, while most workers in the informal sector—estimated at up to 80 percent of the labor force—remain outside its protection.
Beyond wage concerns, the report raised alarm over human rights issues in Nigeria, including enforced disappearances, arbitrary detentions, and child marriages, with some states permitting girls as young as 11 to marry under religious or customary law.
The report concluded that the ₦70,000 wage, though significant on paper, has had limited effect on improving living conditions due to economic and structural constraints.
